<html>
<head>
<meta http-equiv="Content-Type" content="text/html; charset=Windows-1252">
<style type="text/css" style="display:none;"> P {margin-top:0;margin-bottom:0;} </style>
</head>
<body dir="ltr">
<div style="font-family: "Times New Roman", Times, serif; font-size: 11pt; color: rgb(0, 0, 0);" class="elementToProof">
Thanks Nicholas</div>
<div>
<div style="font-family: "Times New Roman", Times, serif; font-size: 11pt; color: rgb(0, 0, 0);">
<br>
</div>
<div id="Signature">
<div>
<div style="font-family:Calibri,Arial,Helvetica,sans-serif; font-size:12pt; color:rgb(0,0,0)">
<img style="max-width:100%" data-outlook-trace="F:1|T:1" src="cid:b44c8ecf-9d38-4b00-896f-6c77ec674a5e"><br>
</div>
</div>
</div>
</div>
<div id="signature_bookmark"></div>
<div id="appendonsend"></div>
<div style="font-family:"Times New Roman",Times,serif; font-size:11pt; color:rgb(0,0,0)">
<br>
</div>
<hr tabindex="-1" style="display:inline-block; width:98%">
<div id="divRplyFwdMsg" dir="ltr"><font face="Calibri, sans-serif" color="#000000" style="font-size:11pt"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com> on behalf of Nick Pleasants <npleasants@ohswlaw.com><br>
<b>Sent:</b> Thursday, September 15, 2022 2:43 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBAPT] Sibling buying out other</font>
<div> </div>
</div>
<div lang="EN-US" style="word-wrap:break-word">
<div class="x_WordSection1">
<p class="x_MsoNormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
Are there any other estate assets? If sufficient cash in the Estate, siblings can do a non-pro rata distribution of estate giving house to sister and equal value cash to brother. If the estate is mostly just the house, then I would do a PR deed to the siblings
50/50 as tenants-in-common, then do a Purchase & Sale where the sister buys out the brother. If it is the first case where sister can get the house by non-pro rata, then you can have sister assume the mortgage. If it is the second case, sister can still assume
the mortgage if she has her own cash to give the brother, or if brother is willing to be paid on a note and subordinate that to the bank’s position. Given the interest rate environment, banks obviously are pushing to force a new mortgage. Garn St. Germain
theoretically allows the sister to assume the mortgage, but I can see the bank taking issue if sister gives the brother does a subordinated note.</p>
<p class="x_MsoNormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
</p>
<div>
<p class="x_MsoNormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<b><span style="font-size:12.0pt; color:black">Nicholas Pleasants | Shareholder </span>
</b></p>
<p class="x_MsoNormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<b><span style="color:black"> </span></b></p>
<p class="x_MsoNormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="color:#70AD47"><img width="223" height="95" id="x_Picture_x0020_2" alt="OseranHahnAttyatLaw 8" style="width:2.3229in; height:.9895in" data-outlook-trace="F:1|T:1" src="cid:image003.jpg@01D8C911.7FD6CC00"></span></p>
<p class="x_MsoNormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="color:#70AD47"> </span></p>
<p class="x_MsoNormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="color:black">11225 SE 6<sup>th</sup> Street | Suite 100 | Bellevue, WA 98004<br>
Main: (425) 455-3900 | Fax: (425) 455-9201 | E-mail: </span><a href="mailto:npleasants@ohswlaw.com" data-auth="NotApplicable"><span style="color:#0563C1">npleasants@ohswlaw.com</span></a><span style="color:black">
</span></p>
<p class="x_MsoNormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="color:black"> </span></p>
<p class="x_MsoNormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;text-autospace:none">
<span style="font-size:10.0pt; font-family:"Times New Roman",serif; color:#1F497D">CONFIDENTIALITY NOTE: This e-mail message contains information belonging to the law firm of Oseran Hahn, P.S., which may be privileged, confidential and/or protected from disclosure.
The information is intended only for the use of the individual or entity named above. If you think that you have received this message in error, please e-mail the sender. If you are not the intended recipient, any dissemination, distribution or copying is
strictly prohibited.</span></p>
</div>
<p class="x_MsoNormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
</p>
<div>
<div style="border:none; border-top:solid #E1E1E1 1.0pt; padding:3.0pt 0in 0in 0in">
<p class="x_MsoNormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>michael westseattleattorney.com<br>
<b>Sent:</b> Thursday, September 15, 2022 12:27 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBAPT] Sibling buying out other</p>
</div>
</div>
<p class="x_MsoNormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
</p>
<div>
<p class="x_MsoNormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-family:"Times New Roman",serif; color:black">Interesting - thanks </span></p>
</div>
<div>
<div>
<p class="x_MsoNormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-family:"Times New Roman",serif; color:black"> </span></p>
</div>
<div id="x_Signature">
<div>
<div>
<p class="x_MsoNormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size:12.0pt; color:black"><img border="0" width="500" height="100" id="x_Picture_x0020_1" style="width:5.2083in; height:1.0416in" data-outlook-trace="F:1|T:1" src="cid:image004.png@01D8C911.7FD6CC00"></span><span style="font-size:12.0pt; color:black"></span></p>
</div>
</div>
</div>
</div>
<div class="x_MsoNormal" align="center" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;text-align:center">
<hr size="2" width="98%" align="center">
</div>
<div id="x_divRplyFwdMsg">
<p class="x_MsoNormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<b><span style="color:black">From:</span></b><span style="color:black"> </span><a href="mailto:wsbapt-bounces@lists.wsbarppt.com" data-auth="NotApplicable">wsbapt-bounces@lists.wsbarppt.com</a><span style="color:black"> <</span><a href="mailto:wsbapt-bounces@lists.wsbarppt.com" data-auth="NotApplicable">wsbapt-bounces@lists.wsbarppt.com</a><span style="color:black">>
on behalf of Inge Fordham <</span><a href="mailto:inge@fordhamlegal.com" data-auth="NotApplicable">inge@fordhamlegal.com</a><span style="color:black">><br>
<b>Sent:</b> Thursday, September 15, 2022 11:59 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv <</span><a href="mailto:wsbapt@lists.wsbarppt.com" data-auth="NotApplicable">wsbapt@lists.wsbarppt.com</a><span style="color:black">><br>
<b>Subject:</b> Re: [WSBAPT] Sibling buying out other</span> </p>
<div>
<p class="x_MsoNormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
</p>
</div>
</div>
<div>
<div>
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
I would think you could put the agreement in a TEDRA that both parties sign and, assuming no existing mortgage, sister could purchase the house from the estate in the agreed-upon amount that sister is paying brother. The transaction would trigger excise tax
on 50% of the purchase (as it will obviously be below FMV) and also has gift tax implications. I don’t see any way around that (but some of our creative colleagues just might).</p>
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
</p>
<div>
<div>
<table class="x_MsoNormalTable" border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse">
<tbody>
<tr>
<td width="60" valign="top" style="width:45.0pt; padding:0in 5.4pt 0in 5.4pt">
<p class="x_xmsonormal" align="center" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;text-align:center">
<span style="font-size:10.0pt; font-family:"TIMES",serif; color:black"><img border="0" width="96" height="95" id="x_x_Picture_x0020_1" alt="uc%3fexport=download&id=1W3rEcChy0_E0cCfV5up02mkhwnL6eWIs&revid=0B4P5JoIHdbFaR29EbHlRWHFseFV5STZpSUVGeUNPWldkVDFVPQ" style="width:1.0in; height:.9895in" data-outlook-trace="F:1|T:1" src="cid:image005.png@01D8C911.7FD6CC00"></span></p>
</td>
<td width="570" valign="top" style="width:427.25pt; padding:0in 5.4pt 0in 5.4pt">
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;margin-bottom:3.0pt">
<b><span style="font-size:13.0pt; font-family:"Cambria",serif; color:#203864">Inge A. Fordham | Attorney</span></b></p>
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;margin-bottom:3.0pt">
<span style="font-size:12.0pt; font-family:"Cambria",serif; color:black">Fordham Law, PLLC</span></p>
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;margin-bottom:3.0pt">
<span style="font-size:12.0pt; font-family:"Cambria",serif; color:black">3218 Sixth Avenue | Tacoma, WA 98406</span></p>
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;margin-bottom:3.0pt">
<span style="font-size:12.0pt; font-family:"Cambria",serif; color:black">Office: (253) 348-2657 | Mobile: (206) 778-3131</span></p>
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;margin-bottom:3.0pt">
<a href="http://www.fordhamlegal.com" data-auth="NotApplicable"><span style="font-size:12.0pt; font-family:"Cambria",serif; color:#0563C1">www.fordhamlegal.com</span></a></p>
</td>
</tr>
</tbody>
</table>
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size:9.0pt; color:black"> </span></p>
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<b><span style="font-size:8.0pt; font-family:"Cambria",serif; color:#7D888E">Confidential Communication:</span></b><span style="font-size:8.0pt; font-family:"Cambria",serif; color:#7D888E"> This email is sent to a recipient on behalf of an attorney/law firm,
and is information intended exclusively for the individual, entity or company to which it is sent. This communication may contain proprietary, privileged or confidential information or may otherwise be legally exempt from disclosure other than to the intended
recipient. If you are not the named addressee, you are not authorized to read, print, retain, copy or otherwise disseminate this message or any part of it. If you have received this email in error, please notify the sender immediately by email or other communication
and delete all copies of the message.</span></p>
</div>
</div>
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
</p>
<div style="border:none; border-top:solid #B5C4DF 1.0pt; padding:3.0pt 0in 0in 0in">
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<b><span style="font-size:12.0pt; color:black">From: </span></b><span style="font-size:12.0pt; color:black"><</span><a href="mailto:wsbapt-bounces@lists.wsbarppt.com" data-auth="NotApplicable"><span style="font-size:12.0pt">wsbapt-bounces@lists.wsbarppt.com</span></a><span style="font-size:12.0pt; color:black">>
on behalf of "michael westseattleattorney.com" <</span><a href="mailto:michael@westseattleattorney.com" data-auth="NotApplicable"><span style="font-size:12.0pt">michael@westseattleattorney.com</span></a><span style="font-size:12.0pt; color:black">><br>
<b>Reply-To: </b>WSBA Probate & Trust Listserv <</span><a href="mailto:wsbapt@lists.wsbarppt.com" data-auth="NotApplicable"><span style="font-size:12.0pt">wsbapt@lists.wsbarppt.com</span></a><span style="font-size:12.0pt; color:black">><br>
<b>Date: </b>Thursday, September 15, 2022 at 11:38 AM<br>
<b>To: </b>WSBA Probate & Trust Listserv <</span><a href="mailto:wsbapt@lists.wsbarppt.com" data-auth="NotApplicable"><span style="font-size:12.0pt">wsbapt@lists.wsbarppt.com</span></a><span style="font-size:12.0pt; color:black">><br>
<b>Subject: </b>[WSBAPT] Sibling buying out other</span></p>
</div>
<div>
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
</p>
</div>
<div>
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-family:"Times New Roman",serif; color:black">Hi,</span></p>
</div>
<div>
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-family:"Times New Roman",serif; color:black">Two siblings , brother and sister with sister buying out brouther. Bank saying that it has to be sister buying real property from the estate. Will that require them to pay the 1.78% excise tax?
Any way to avoid that like giving real property to sister and have her refinance the real property and just give brother the money? </span></p>
</div>
<div>
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-family:"Times New Roman",serif; color:black">Thanks </span></p>
</div>
<div>
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-family:"Times New Roman",serif; color:black">mike </span></p>
</div>
<div>
<div>
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-family:"Times New Roman",serif; color:black"> </span></p>
</div>
<div id="x_x_Signature">
<div>
<div>
<p class="x_xmsonormal" style="margin: 0in; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size:12.0pt; color:black"><img border="0" width="500" height="100" id="x_x__x005f_x0000_i1025" style="width:5.2083in; height:1.0416in" data-outlook-trace="F:1|T:1" src="cid:image006.png@01D8C911.7FD6CC00"></span></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</body>
</html>